edithmar6215 edithmar6215

04-07-2021
Business

contestada

If $240,000 is invested today and returns $432,000 in 10 years, what formula can be used to calculate the interest rate

Respuesta :

05-07-2021

Answer:

r = (FV/PV)^(1/n) – 1

and

Interest is 6.05 %

Explanation:

Interest is calculated as :

r = (FV/PV)^(1/n) – 1

Thus,

The formula that can be used to calculate the interest rate is

r = ($432,000/$240,000)^(1/10) – 1

= 6.05 %

Answer Link

Otras preguntas

simplify fully 40/56

Solve each of the following equations. Show its solution set on a number line. Check your answers. |3x-2| = 19

Plot A(2,3) and B(2,5). What is the midpoint of points A and B?

I went shopping for a new car. the suggested manufacturers price is $26,985. With discounts for first time car buyer, being a college graduate, and the Labor Da

Plot A(2,3) and B(2,5). What is the midpoint of points A and B?

at the market opening, a customer purchases 200 shares of an S&P 500 inverse etf (-1x) at $50 per share. At the end of that day, the s&P 500 index decli

How the federal government supported nationalism in their intersections with the states

anyyyy girrllll online hereeeere m soo bored

at the market opening, a customer purchases 200 shares of an S&P 500 inverse etf (-1x) at $50 per share. At the end of that day, the s&P 500 index decli

Marvin drove 310 miles in 5 hours. At this same rate, how far could he travel in 2 hours? a. 105 miles b. 124 miles c. 155 miles d. 170 miles e. 200 miles